BidaskClub upgraded shares of SP Plus Corporation (NASDAQ:SP) from a buy rating to a strong-buy rating in a report published on Friday morning.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded SP Plus Corporation from a hold rating to a buy rating and set a $34.00 price objective for the company in a report on Wednesday, July 5th. ValuEngine upgraded SP Plus Corporation from a hold rating to a buy rating in a report on Friday, June 9th.

SP Plus Corporation (NASDAQ:SP) opened at 37.30 on Friday. The stock’s 50 day moving average is $33.88 and its 200-day moving average is $32.01. SP Plus Corporation has a 1-year low of $22.60 and a 1-year high of $38.55. The firm has a market capitalization of $828.13 million, a PE ratio of 21.66 and a beta of 1.01.

SP Plus Corporation (NASDAQ:SP) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. SP Plus Corporation had a return on equity of 13.82% and a net margin of 2.36%. The business had revenue of $415.40 million for the quarter, compared to analyst estimates of $223.35 million. Equities research analysts forecast that SP Plus Corporation will post $1.69 EPS for the current year.

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In related news, Director Robert S. Roath sold 70,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total value of $2,433,900.00. Following the completion of the sale, the director now owns 36,936 shares in the company, valued at $1,284,264.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in shares of SP Plus Corporation by 3.1% in the second quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock valued at $102,000 after buying an additional 100 shares during the period. Legal & General Group Plc increased its stake in shares of SP Plus Corporation by 5.0% in the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock valued at $129,000 after buying an additional 200 shares during the period. Acadian Asset Management LLC increased its stake in shares of SP Plus Corporation by 678.9% in the second quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock valued at $176,000 after buying an additional 5,010 shares during the period. California Public Employees Retirement System acquired a new stake in shares of SP Plus Corporation during the second quarter valued at about $214,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of SP Plus Corporation during the second quarter valued at about $221,000. Institutional investors and hedge funds own 94.68% of the company’s stock.

SP Plus Corporation Company Profile

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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